Scottish Financial Risk Academy

Colin Maclaurin Building, Gait 1, Heriot-Watt University, Edinburgh EH14 4AS

The Scottish Financial Risk Academy (SFRA) was established in 2010 with a £335,000 grant from the Scottish Funding Council, following a competitive call for proposals for demand-led knowledge exchange projects involving Scottish universities and key sectors of the economy.

The current and future competitive advantage of Scottish financial services is critically dependent on having access to a highly technically-skilled and knowledgeable labour force and, in the field of quantitative financial risk, the involvement of the academic sector is crucial in guaranteeing this.

The Risk Academy is the first academic-industry partnership in the UK to address quantitative financial risk management. Led by Professor Alexander McNeil, the Risk Academy has been established by Heriot-Watt University and the University of Edinburgh, through their joint research institute, The Maxwell Institute for Mathematical Sciences. The Risk Academy’s aim is to enhance the quality and understanding of financial risk management across the financial sector, exploiting the knowledge, skills and complementary expertise found in academia and in real industrial practice.

The consortium of founder members of the SFRA comprises The Maxwell Institute, Scottish Financial Enterprise, the Actuarial Profession, Aberdeen Asset Management, Barrie & Hibbert and Lloyds Banking Group.

The Risk Academy provides a series of knowledge exchange activities, all of which are designed to improve the understanding of financial risk. These activities include:

  • Biannual Risk Colloquia
  • Short, intensive knowledge transfer (CPD) workshops
  • Industry placements for MSc and PhD students
  • Postgraduate course modules led by industry professionals

The Risk Academy has a membership model to encourage the active engagement of companies, organisations, academic institutes and individuals in its activities. Membership is now open and if you are interested in joining us, or want to find out how we can work together, please contact us.

Noreen O’Donnell Business Engagement Manager, Scottish Financial Risk Academy